Wednesday, 13 August 2014

MIDEAST STOCKS-Property stocks boost Egypt; soft oil price dampens Saudi | Reuters

MIDEAST STOCKS-Property stocks boost Egypt; soft oil price dampens Saudi | Reuters:



"Property stocks led Egypt's main share index to a six-year high on Tuesday, while soft international oil prices ended an 11-day rising streak for Saudi Arabia's stock market.



The main Egyptian benchmark rose 0.4 percent, its sixth gain in seven sessions, to 9,274 points, bringing its gains to 87 percent since the army ousted president Mohamed Mursi in July 2013.



SODIC, Egypt's third-largest listed property developer, jumped 9.5 percent, while its larger rivals Talaat Moustafa and Palm Hill Development Co gained 1.0 and 2.1 percent respectively."



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